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Rent a room scheme tax
Hi all, I was just wondering if anyone on here could give me some advice, as the internet is just confusing me....doesn't take a lot!!:( I have a lodger at home. I charge him £425 per month which obviously takes it over the tax free break of £4250 for the year. I'm also about to move house and take my lodger with me, and…
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Not registered for self assessment in 6 years...
What started as a bit of additional income back in 2008 when I lived at home with my parents, somehow escalated into a profitable online business, but I did not register as self employed and have been burying my head in the sand ever since. I want to come clean and start afresh but am concerned about the consequences. The…
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Tax year 2012-13
Hi I have to fill out a Self-Assessment tax form for the financial year 2012-13 in order to claim Income Tax Relief for a Community Shares Scheme (EIS). I am PAYE on two incomes, one from a final salary pension and the other from my present employment. I have a P60 for the pension but only a March salary payslip for my…
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Retiring part way through the tax year
Please could someone advise me? I will be working until this summer, at which time I will retire (though below state pension age, so no income from that source at all during this tax year). I am however already in receipt of a workplace pension which is taxed at source (code BR) I pay PAYE on my salary and have the£10k…
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Question about tax on rental property
Hoping some kind soul can help out with a bit of advice on tax on rental income. My wife and I owned a flat that we rented out. In terms of the last tax year, we had a tenant living there during April and May 2013, but they then moved out. We then put the property on the market and it completed in October 2013. We…
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Paying in new tax year
I'm just about to run the payroll for our employees who will be paid on Thursday of this week (they work a week in advance). I'm using the HMRC Basic Tools and did the Final Payment Submission last Monday (for payments due out last Thursday). My Basic Tools hasn't updated to allow me to print out the P60s or enter the tax…
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CIS paid when self-employed but now employed
Hi, some advice if you please... Hubby was working for an agency last Apr and May - he was paid weekly and they deducted CIS tax (it's approx £350 for the 2 months). He then got a full time job and is paying PAYE. How will he go about telling the Inland Revenue about the CIS tax he's paid. Will we have to do a tax return -…
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Help With The Dark Art of Tax
Can anyone help me with understanding tax please!? I have recently been told I am a higher tax payer and therefore choldcare voucher allowance has gone down and I dont understand why. I earn £43903 which includes car and medical benefits but pay £233.33 per month to a company pension scheme with a salary sacrifice. I…
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Advice needed on self assesment return
Hi, my son has asked me to do his tax return for him for 2013/14 he is self employed works on the railways, he has been with the company 21 weeks, will he get the full personal allowence £9440 or will he just get the 21 weeks worth of allowance ?
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Need to claim back some tax??
Hi, I wonder if anyone could help because I am very lost trying to find out how to do this via the HMRC website. Husband has just had a refund from his bank for his account charges (yay!) but they have taxed him on some of it. We haven't earnt enough this year to be taxed so we need to claim this back - it's a couple of…
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Can I claim for Higher Education course?
Hi there, I was wondering if anyone here can help me with some advice. I have been working full time in the construction industry for around 10 years now (civil engineering and groundworks mainly). This year i started a Part time course studying Civil Engineering HNC and as you may know tuition fees are not cheap. I had no…
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Umbrella company expenses
I am now having to use an umbrella company for my short works contract. I am told I can claim expenses for things like travel, food etc. I earn about £12 an hour and and I am away from my home for more than 12 hours a day. I am very new to this and they didn't really explain it very we'll to me. I have not forwarded any…
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Relocation tax rebate - timeframe
Deleted, no longer needed
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Dads tax
Sorry if this is the wrong place or i don't have all the info needed to get help but my dad isn't good with computers and i'm working on limited information. My dad and his friend have a business partnership, the first year they did their tax he did it wrong and got paid more than he should of, the second year he used an…
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Self-assessment for salaried employee
Hi, I am a salaried employee and I travel to work by train. Currently I don't do my self-assessment because as I understand, being a salaried employee, I don't need to. But one of my friends told me that I can claim for my travel expenses in my self-assessment and claim refund for that up to 3 years in the past. Is that…
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'Tax' & bank statements? (resolved)
Looking at my self assessment (CIS sub contractor), I've got it mostly filled out, mostly being that a lot is N/A. The main points being Net, Gross and expenses but my useless previous employers are taking forever sorting out my CIS-Calculations for the year. Won't these be the same as shown on my pay slips/bank account?…
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Tax Return help.
Hi guys, just wondering if anyone knows how to do tax calculations before I send mine off to a new accountant. I'll share with you what I've earned and spent this year on my business so maybe you can help with how much *roughly* I'll be receiving back. PAYE income: £2776 Self employed Income: £9568 Tax paid: £1999…
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Tax implications & National Lottery Syndicates.
First of all I would like to apologise if I have posted this question in a wrong section, I'm new to MSE and this was not my intention. Say I won a large sum of money whilst in a syndicate (hypothetically speaking), and I transferred 50% of the sum of the winnings to the other member of this syndicate. Would I be liable…
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Paid Interest Tax free
Hello Can anyone help. I applied to get my interest payed tax free from the new tax year 14/15 with various banks i hold accounts with.But they payed me some tax back dated does anyone know were to put this amount on a self assessment form so i can return it to HMRC.:beer:
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Self Employed - Help with payment on account..
I've just completed my 3rd tax return online, yes, I'm keen! :o I've been told I have to pay £7128 by Jan 31st 2015. So Jan 2014 I paid my calculated tax, Plus £900 on account, and another £900 is to be paid this July coming. Does that get deducted from the £7128? I'm a bit shocked how high it is, but this year I've got my…
